Switzerland leads the World Intellectual Property Organization’s Global Innovation Index 2026, released September 29 in Geneva, followed by Sweden, the United States, the Republic of Korea and Singapore. The report finds that artificial intelligence is driving a rebound in venture capital and R&D spending, while emerging economies keep gaining ground.
Key Takeaways
- Global venture capital funding rose 28% to $510 billion in 2025, with AI accounting for 53% of global deal value and 77% in the first half of 2026.
- WIPO estimates global R&D spending will grow 3.6% in 2026 to $3.4 trillion, after growing more than 3.3% in real terms in 2025.
- More than 30,000 deep science startups have been created since 2000, with a combined value of $7.6 trillion, up 23% from 2024.
- The United Arab Emirates rose five places to 25th, entering the top 25 for the first time.
- Twenty-one economies performed above expectations for their level of development, 15 of them lower-middle- or low-income economies.
- African startups raised about $3.2 billion in 2025, a 40% increase from the previous year.
The Top Of The Global Innovation Index Holds Steady In 2026
The Global Innovation Index, now in its 19th edition, ranks 139 economies using 79 indicators across innovation inputs, such as institutions, human capital, infrastructure and market sophistication, and outputs, such as knowledge, technology and creative production. The top five were unchanged from 2025. Behind them, the United Kingdom placed sixth, the Netherlands moved up to seventh, Finland slipped to eighth, Denmark held ninth and China held tenth.
WIPO reported that no new economies entered the top 15 this year. Canada (16th), Australia (20th) and New Zealand (24th) regained ground, and the United Arab Emirates moved into the top 25. The stability at the top reflects how slowly national innovation systems change. The more telling movement is further down the table.
Emerging Economies Keep Climbing The Innovation Rankings
Over the past decade, China, India, Viet Nam, Türkiye, the Philippines, Morocco and Indonesia have risen quickly through the rankings, according to WIPO. Brazil, Mauritius, Saudi Arabia and Qatar are also on upward trajectories.
The index also tracks economies that outperform expectations for their income level. That group grew from 17 to 21 this year, and 15 of the 21 are lower-middle- or low-income economies. India and Viet Nam have overperformed for 16 consecutive years. Sub-Saharan Africa has seven overperformers, including South Africa for a ninth straight year. Mozambique, Pakistan and the Republic of Moldova returned to the group, Bhutan joined in its first year, and Brazil remains the only overperformer in Latin America and the Caribbean.
For readers tracking global economic shifts, this is the key finding. Innovation capacity is no longer concentrated only in high-income economies. Middle-income countries are building research and startup ecosystems that register in the data.
Artificial Intelligence Reshapes Where Innovation Money Goes
WIPO’s funding figures show a recovery, but a concentrated one. Global venture capital grew 28% to $510 billion in 2025, the largest annual gain since 2021 according to WIPO. At the same time, the number of venture deals fell for a fourth consecutive year, and AI captured more than half of global deal value.
The pattern suggests investors are placing larger bets on fewer companies, much of it in a single technology. Research spending shows a similar tilt. Corporate R&D grew 5.8% in real terms in 2025 to $1.5 trillion, driven largely by software and AI companies. Overall R&D growth is increasingly coming from middle-income economies such as Egypt, Indonesia, Malaysia and Viet Nam.
Venture activity is also spreading geographically. African startups raised about $3.2 billion in 2025, a 40% year-on-year increase that points to a broader base of investment even as global capital concentrates in AI.
Deep Science Startups Are Now Valued At $7.6 Trillion
The 2026 special theme, “Powering Entrepreneurs at the Frontier of Science,” draws on the new Dealroom-WIPO Deep Science Startup Tracker, the first global mapping of science-based startups and university spinouts. More than 30,000 such firms have been created since 2000, nearly ten times the 2010 figure, across semiconductors, robotics, quantum computing, life sciences, space and advanced materials. Their share of all venture-backed startups reached 16% in 2025.
The United States leads with 12,752 deep science firms, followed by China with 3,466 and the United Kingdom with 2,133. Growth since 2020, however, has been fastest elsewhere: 118% in Central and Southern Asia, driven by India, 71% in Latin America and the Caribbean, and 65% in Sub-Saharan Africa. Türkiye, India, Malaysia, Brazil and South Africa lead the middle-income group.
WIPO Director General Daren Tang said a new generation of deep-science startups is “translating breakthroughs into products” across fields including life sciences, space, robotics and clean energy.
Funding Gaps Slow Deep Science Ventures At Predictable Stages
The report also identifies where these ventures struggle. Startups and spinoffs tend to stall at two transitions: from research to proof of concept, and from pilot to commercial deployment. Both points line up with thinner Series B and C funding rounds. For governments using the index to shape policy, the finding points to a clear gap: early research funding is not enough if capital disappears when ventures try to scale.
That policy relevance is part of the index’s reach. In WIPO’s 2025-2026 survey, 78% of responding member states, 93 of 120, said they use the Global Innovation Index to improve innovation policy and data. The 2026 edition adds an indicator on greenfield R&D and high-tech foreign direct investment. The index is independently audited by the European Commission’s Joint Research Centre.
Disclaimer: This article is provided for informational purposes only and is based on information published by the World Intellectual Property Organization (WIPO) and other cited sources. The Global Innovation Index rankings, venture capital figures, research and development data, and other statistics reflect the information available at the time of publication and may be updated or revised by the relevant organizations. References to economic trends, investment activity, or innovation performance are descriptive and should not be interpreted as financial, investment, business, or policy advice. Readers should consult official WIPO publications and other primary sources for the latest data and methodology.
FAQs
Which Country Ranks First In The Global Innovation Index 2026?
Switzerland ranks first in the Global Innovation Index 2026, followed by Sweden, the United States, the Republic of Korea and Singapore.
What Is The Global Innovation Index?
The Global Innovation Index is an annual ranking published by the World Intellectual Property Organization. It evaluates 139 economies on 79 indicators covering innovation inputs and outputs, from R&D and skilled employment to high-tech trade and creative outputs.
How Much Venture Capital Went To AI In 2025?
According to WIPO, AI accounted for 53% of global venture capital deal value in 2025 and 77% in the first half of 2026. Total venture funding reached $510 billion in 2025.
Which Economies Are Rising Fastest In The Innovation Rankings?
Over the past decade, China, India, Viet Nam, Türkiye, the Philippines, Morocco and Indonesia have climbed quickly, and Brazil, Mauritius, Saudi Arabia and Qatar are also trending upward.
What Is The Dealroom-WIPO Deep Science Startup Tracker?
The tracker is the first global mapping of science-based startups and university spinouts. It covers more than 30,000 firms in fields such as semiconductors, quantum computing, life sciences, space and advanced materials.
